Following is a list of events for Sterling Moving for the month of January. Show the...
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Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below. Jan. I Owner invested $30,000 cash into the business Purchased $1,500 of equipment with cash. 3 5 Purchased $400 of supplies on account. 12 Bought a car, paying $2,000 in cash and signing a note for $10,000 14 Performed services for a customer for $1,000 on account. 15 Paid employee wages of $600. 18 Paid $2,000 on the note payable for the car purchased on Jan. 12. 24 Performed services for a customer for cash, $2,500. 27 Collected $500 from the customer of Jan. 14. 30 Owner withdrew $400 cash for personal use. Date Jan. 1 3 5 12 14 15 18 24 27 30 Total Cash A/R Supp. Equip Car AP N/P Capital Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below. Jan. I Owner invested $30,000 cash into the business Purchased $1,500 of equipment with cash. 3 5 Purchased $400 of supplies on account. 12 Bought a car, paying $2,000 in cash and signing a note for $10,000 14 Performed services for a customer for $1,000 on account. 15 Paid employee wages of $600. 18 Paid $2,000 on the note payable for the car purchased on Jan. 12. 24 Performed services for a customer for cash, $2,500. 27 Collected $500 from the customer of Jan. 14. 30 Owner withdrew $400 cash for personal use. Date Jan. 1 3 5 12 14 15 18 24 27 30 Total Cash A/R Supp. Equip Car AP N/P Capital
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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